New EIA Country Analysis: Norway

The report reveals that Norway’s:

• Oil and gas exports account for 15% of Norway’s GDP

• Oil and gas reserves are all offshore

• North Sea oil production has declined to about 2M b/d in 2015, from from a high of 3.4M b/d in 2001

• Oil exports go to Europe (97 percent)

• Subsea oil pipelines can move 1.8 b/d of crude and concentrates

• Crude oil refining capacity is 346,000 b/d, in two refineries

• Natural gas production increased from 2 to 4.1 tcf between 2001 & 2015.

• Gas exports are the third-largest in the World

• Natural gas production is exported to Europe (95%)

• Has 3,310 miles of gas export pipelines delivering almost 4 tcf.

• LNG shipments totaled 198 Bcf in 2015

• Norway is a leader in the development of small-scale LNG plants

• Natural gas plant liquids (NGPL) reached 350,000 boe in 2015

• NGPL port, is the largest in Europe and one of the World’s largest

• Exports of LPG are increasing, but ethane production has dropped

• Hydro-power accounts for 97% of electric generation

To see the full EIA Report, CLICK HERE >>